Prius and it's ilk...
For those of us that are not gizmo-geeks or single-issue environmentalists, this is a simple math problem. The Prius gets better gas mileage in urban situations b/c there is more braking (charges batteries) and slower speeds (gas engine need not run constantly). So, within a city, she'll give roughly twice the mileage of a normal subcompact or about a 30mpg benefit. On the highway, she behaves more like a really good Corolla with maybe a 15 mpg benefit. Initial cost is something like $20k minus tax credit, which is about $3k in CA and Northern VA, IIRC.
So, if you drive 12500miles/yr in an urban area and get a 30mpg advantage, you'll save roughly 208 gallons of gas or about $415/yr @ $2/gal. If you split that 12500 miles between highway and city, you'd save about $280/yr.
Now, if your effective purchase price was the same, the savings is clear. However, if you paid a $3k premium, it would take you about 9yrs to make up the difference in the city and about 15yrs to make it up in the mixed scenario (assumes 5% interest on purchase savings). Take the premium down to $2k and the paybacks are 5.5 & 9 yrs, while at a $1k premium the paybacks are 2.5 & 4 yrs.
Naturally, all paybacks get (much) shorter with more miles/yr, gas at $3/gal or with the alternative purchase being a fullsize pickup! For instance, if you bought a $14k bargain F150 instead and then drove the mixed scenario at 16mpg, the $3k premium for the Prius would be paid off within about 3yrs.
There is one wild card though. The Prius makes you drive for economy and not speed. It gives you feedback on your instantaneous consumption rate that literally turns driving fun from "how can I get there faster" to "how can I get there more efficiently". If you haven't experienced this, you really should. It's a trip (pun intended). |
